Seidler family weighs five offers for Padres

The Seidler family’s efforts to sell the Padres appear to have gained momentum in recent weeks. Sheel Seidler, widow of former Padres owner Peter Seidler, dropped or settled most of her lawsuits against Peter Seidler’s brothers earlier this month. That cleared the way for the family to ramp up a sales process that began in November.

Kevin Acee of the San Diego Union-Tribune reports that five potential buyers have submitted an offer. Previous reporting had identified Joe Lacob, José E. Feliciano and Dan Friedkin as suitors.

Lacob, the owner of the NBA’s Golden State Warriors, had previously expressed interest in buying the Angels and Athletics. Feliciano is a Santa Monica-based private equity magnate whose company is the principal owner of the English Premier League team. Chelsea FC Friedkin was born in San Diego, but is now based in Texas. He has several business interests and also owns a Premier League club, Liverpool-based Everton FC

Most American sports fans will be more familiar with another potential buyer. Dennis Lin and Ken Rosenthal of The Athletic reported this afternoon that Hall of Fame quarterback Drew Brees has teamed up with Vuori CEO Joe Kudla to make a bid to purchase the franchise. Vuori is a San Diego-based clothing company that specializes in athleisure. Brees played the first five seasons of his career with the Chargers.

Assuming offers are made by Lacob, Feliciano, Friedkin and the Kudla/Brees groups, that would be 80% of what appears to be the remaining field. The identity of the final bidder is not known.

Earlier this month, Sporty estimated the franchise value at approximately $2.31 billion. It seems like the Seidler family is aiming a lot higher. Acee writes that people within the industry expect the sales price to exceed $2.5 billion. Rosenthal and Lin report that the Seidlers are seeking a purchase price closer to $3 billion than Sportico’s estimate.

Anything over $2.5 billion would be a record for an MLB franchise. Steve Cohen’s purchase of the Mets from the Wilpon family in 2020 cost approximately $2.475 billion. That remains the highlight. More recent sales of the Orioles and Rays have landed in the $1.7 billion range. Peter Seidler’s group bought the Padres in 2012 for $800 million. The reports from the Union-Tribune and The Athletic — each worth reading in full for San Diego fans — suggest an agreement could be reached around Opening Day.